Allgreen Properties, which is controlled by Malaysian billionaire Robert Kuok, will be delisted today, after a unit owned by members of the Kuok Group offered S$1.60 for each share in Allgreen in May 2011.
This offer values the company, which is one of Singapore’s largest property groups, at $2.54 billion.
Listed on the Singapore Exchange (SGX) in 1999, Allgreen has a total landbank of around 1.3 million sq ft of gross floor area (GFA) of residential development as of end-2010. Its recent launches include Skysuites@Anson and Pavilion Park Phase 1D in Bukit Batok.
Meanwhile, Australand Property Group, a subsidiary of CapitaLand, has announced that it plans to surrender its secondary listing on the SGX. However, it intends to keep its primary listing on the Australian Securities Exchange (AGX) since most of its core business revolves around Australian properties.
It said that shares will be sold in batches according to the current market price set by an appointed broker.
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